South Dakota One of the Cheapest Places in America for This Type of Housing
As the prospects of owning a traditional home continue to dwindle for more and more Americans during challenging economic times, many are looking at a very specific type of dwelling to make their dreams of homeownership become reality.
And South Dakota is one of the most affordable places in America to make it happen.
Using numbers from the U.S. Census Bureau, Lending Tree discovered that mobile homes are priced far below the average single-family dwelling across the country, making it the ideal choice to own, especially for lower-income families.
According to the data, South Dakota's mobile home market is the eighth cheapest in America.
In fact, the average mobile home in the Mount Rushmore State is $31,100, which is more than $150,000 less than the median price of a traditional single-family home in the state ($185,000).
At last count, South Dakota had 32,717 mobile homes, which represents 8.3% of the total housing stock in the state.
STATES WITH MOST AFFORDABLE MOBILE HOMES (Average Value)
- Nebraska - $21,800
- Iowa - $23,300
- Ohio - $24,900
- Kansas - $25,400
- Indiana - $29,200
- Wisconsin - $29,600
- Illinois - $30,600
- South Dakota - $31,100
- Minnesota - $31,200
- Michigan - $32,400
Every single state in the top ten saw a more than $100,000 difference in prices between mobile and traditional homes.
In two states outside of the top ten, New Jersey and Utah, the difference was about $300,000.
According to the latest figures, Florida has the most mobile homes (841,439), followed by Texas (795,015).
South Carolina has the highest percentage of mobile homes at 16.5 percent, with West Virginia in second with 15 percent.
TRENDING FROM RESULTS-TOWNSQUARE SIOUX FALLS:
- 12 Ideas For Sioux Falls' Empty Gordmans Building
- You Can Get This South Dakota Home Now For A 'Heck Of A Deal'
- South Dakota Woman Fakes Kidnapping 'Wanted Break From Husband'
- WWE SuperShow Came To Sioux Falls [PHOTOS]